Xerox (XRX) Set to Announce Quarterly Earnings on Tuesday

Xerox (NYSE:XRX - Get Free Report) will issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.53 per share for the quarter. Xerox has set its FY 2024 guidance at EPS.Parties interested in participating in the company's conference call can do so using this link.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company's revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts expect Xerox to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Xerox Price Performance

Shares of XRX stock traded down $0.33 on Wednesday, reaching $10.08. The company's stock had a trading volume of 2,358,365 shares, compared to its average volume of 2,132,349. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. Xerox has a 12-month low of $9.51 and a 12-month high of $19.78. The company has a market capitalization of $1.25 billion, a P/E ratio of -9.81 and a beta of 1.57. The stock's 50 day simple moving average is $10.46 and its 200-day simple moving average is $12.16.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.92%. Xerox's dividend payout ratio (DPR) is presently -95.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XRX shares. JPMorgan Chase & Co. reduced their price objective on Xerox from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Monday. StockNews.com upgraded shares of Xerox from a "hold" rating to a "buy" rating in a report on Thursday, September 5th. Loop Capital dropped their target price on shares of Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Finally, Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They set a "sell" rating and a $11.00 target price for the company. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.25.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.